Pensions or Everything Else?

What's the Story

Public employee pensions are crippling our state. California's expenditures on public pensions will be over $25 billion annually in the near future. This is as much as the government spends on the environment, labor, consumer protection, higher education, and corrections combined. Something needs to change, and recent cuts have only slashed core services, while pension benefits continue to cost the state more each year. This problem is the result of back-door deals between politicians and public employee union leaders (who donate millions annually in Sacramento). It is hurting taxpayers who are paying more for public pensions and it will hurt public employees who have been made unrealistic promises that cannot continue to be promised or fulfilled.

What's At Stake

$25 billion

This will be the annual employer contribution and is computed in Joe Nation's SIEPR report on California's pension systems (assuming a 6.2 percent investment rate of return) prepared with the assistance of CACS researchers, available at www.siepr.stanford.edu. This is an unjust and unsustainable burden to taxpayers who deserve better. Vote to FixIt!